How to use Support and Resistance Effectively - page 53
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Thanks Mikom, very nice indic !
Just for learning, would you like to explain this syntax, I do not figure what it does...
Do you you assume the boolean value as integer 1 or 0 and read the stuf like this ?
[PHP]int c = ((heat + (heat << 8) + (heat << 8)) << 8;That's bit shift operation to calculate R G and B values for gray (each is 8 bit).
I didn't even find it in the documentation, I just tried it (I'm a veteran in java/c++) and it worked. If you are interested in the operation, see
Bitwise operation - Wikipedia, the free encyclopedia
more info on market profile type tecniques:
NTR
Natural Trading Range (NTR)
That's bit shift operation to calculate R G and B values for gray (each is 8 bit).
I didn't even find it in the documentation, I just tried it (I'm a veteran in java/c++) and it worked. If you are interested in the operation, see
Bitwise operation - Wikipedia, the free encyclopediaVery interesting ! Thank you very much, it's always a pleasure to learn something new (and hidden) about ml4 ! You had a very good fealling...
support and r
Hi,
I'm new on mt4, I have just used VTrader and it has as indicators supports and resistences. How can I insert supports and resistences on mt4 charts?
thank you for yours answers
Hi,
I'm new on mt4, I have just used VTrader and it has as indicators supports and resistences. How can I insert supports and resistences on mt4 charts?
thank you for yours answersThis thread is mainly focused to draw manual SR.
Fractals indicator that comes with MT4 default installation is also good to obtain some idea about SR.
We have some threads with indicators, like this or this, this one. Another here and here.
This thread is mainly focused to draw manual SR.
Fractals indicator that comes with MT4 default installation is also good to obtain some idea about SR.
We have some threads with indicators, like this or this, this one. Another here and here.thanks for the links Linuxser.
but most of indicators to draw s&r are useless. But there are too another ways of drawing s&r using indicators that i have interest.
one of them i am investiganting is Drummond Geometry.
i don't know how to use it but i know that Mark Douglas, one of the most quoted and famous author in trading (i did not read Douglas yet but i itend to read as soon as possible) said that it is a very accurately way to define support and resistance.
there are only a few results in google for it. But i found people saying that it is extremely complicated. Some people saying it is good, some saying it is crap, etc. So i don't know if i want to start with it yet.
i have a few files about it but i first want to know if anyone here have experience with it.
thanks for comment.
thanks for the links Linuxser.
but most of indicators to draw s&r are useless. But there are too another ways of drawing s&r using indicators that i have interest.
one of them i am investiganting is Drummond Geometry.
i don't know how to use it but i know that Mark Douglas, one of the most quoted and famous author in trading (i did not read Douglas yet but i itend to read as soon as possible) said that it is a very accurately way to define support and resistance.
there are only a few results in google for it. But i found people saying that it is extremely complicated. Some people saying it is good, some saying it is crap, etc. So i don't know if i want to start with it yet.
i have a few files about it but i first want to know if anyone here have experience with it.
thanks for comment.Something about Drummond in our forum
Something about Drummond in our forum
yeah...i know, i know
Mp --- Not So Sure About This
i really like this method. i hope i can master it. look forward to others posting their analysis too. thanks.
Greetings again ForexBabe,
Ive attached two charts, one of which is a zoom in of dec 27 -- what you did was enter AFTER the price had hit resistance, and was now falling. Unfortunately, your long should have been a short.
The second chart is a DAILY chart of UJ with the gaggle of arrows pointing at what i believe is the correct day in question. PLEASE NOTE that the currency had HIT its TOP Linear Regression Channel (which is actually a super support and resistance channel based on s+r and TREND !
Understand that almost perfectly, a currency will rise to its TOP LRC and then bounce back to the BOTTOM, repeating this procedure until it BREAKS OUT or BREAKS DOWN, should that be in the cards ! I gave you enough of the daily chart for you to see this in action !
SO, what you had working against you here was a currency that TECHNICALLY was already moving DOWN while you were playing it as a LONG !
One can have numerous conversations as to whether news moves the currency or does technicals, and from years of watching, MY money is on the technicals, as the banks are already moving the currency in the best direction for any coming news (u think maybe they dont know what the news will be, with tons of peoples working in their research depts ?)
In other words, if the news is going to be BAD, you will notice the currency price MOVING UP a few days prior to the announcement, which is EXACTLY what happened --- this allows the banks to have the greatest RANGE to be able to SHORT the currency, which is EXACTLY what happened here ! ----- The news from Pakistan, and NO other news moved this currency as it was already to go in that direction !
Using the LRC on the daily chart, one would (or should) have been FLAT and waited to see if there was a breakout, or the anticipated reversal DOWN !
IT WENT DOWN , as was to be expected !! (lol)
enjoy and trade well
mp
Support and Resistance
Hi all,
Can anyone help me play and amend this indicator please?
Cheers
wasp